William Blair analyst Myles Minter has maintained their bullish stance on LRMR stock, giving a Buy rating on September 16.
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Myles Minter’s rating is based on several key observations regarding Larimar Therapeutics’ recent data release. The company reported promising results from its ongoing study of nomlabofusp in Friedreich’s ataxia, showing significant frataxin expression and functional improvements in patients. Despite these positive outcomes, the stock experienced a decline due to concerns over anaphylaxis incidents, which led to patient discontinuations.
To address these safety concerns, Larimar is implementing a revised dosing regimen in collaboration with the FDA, aiming to mitigate the risk of anaphylaxis. Additionally, the company’s plans for a BLA submission for potential accelerated approval remain on schedule, indicating confidence in the drug’s future prospects. These factors combined support Minter’s Buy rating, reflecting optimism about the company’s ability to overcome current challenges and achieve long-term success.
In another report released on September 16, LifeSci Capital also maintained a Buy rating on the stock with a $33.00 price target.